Quick take: Redtone shares shoot up after strong Q4 earnings

KUALA LUMPUR: Redtone International Bhd’s shares jumped 8.2% in early trading on Wednesday after the company reported a 53% jump in net profit in the fourth quarter. 

The counter jumped 8.2%, or 2.5 sen to 33 sen with 2.4 million shares traded. In the past one year, Redtone has appreciated over 24%.

Redtone’s net profit for the fourth quarter ended April 30, 2019 (4QFY19) rose 53% to RM4.8mil, from RM3.13mil in the previous year, thanks to higher revenue contributions from its managed telecommunication network services (MTNS) segment. 

Its revenue during the quarter rose by 132% to RM73.38mil, against RM31.61mil a year ago.

For the full financial year, Redtone posted a net profit of RM15.36mil against RM5.96mil. Its revenue rose to RM178.92mil from RM118.08mil. 

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